WuXi Biologics to spin-off and list separately its WuXi XDC unit

Chinese contract research, development and manufacturing organization WuXi Biologics (2269. HK) on Sunday announced the proposed spin-off and separate listing of its subsidiary WuXi XDC Cayman (WuXi XDC) on the main board of the Hong Kong Stock Exchange.

WuXi XDC, a joint venture between WuXi Biologics and WuXi STA, provides end-to-end contract research, development and manufacturing services for bioconjugates, including antibody drug conjugates (ADCs). Its services cover antibodies and other biologics intermediates, chemical payloads and linkers, as well as bioconjugate drug substances and drug products.

Earlier this year, WuXi Biologics signed a deal with the UK’s GSK (LSE: GSK) to acquire licenses for up to four bi- and multi-specific T cell engaging (TCE) antibodies worth a potential $.15 billion.